Stephens assumed coverage on shares of PROCEPT BioRobotics (NASDAQ:PRCT - Free Report) in a research note released on Wednesday, MarketBeat.com reports. The firm issued an overweight rating and a $70.00 price target on the stock.
Several other brokerages have also commented on PRCT. Oppenheimer began coverage on PROCEPT BioRobotics in a report on Monday. They issued a "market perform" rating on the stock. Bank of America lowered their price target on PROCEPT BioRobotics from $104.00 to $84.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Truist Financial lowered their price target on PROCEPT BioRobotics from $90.00 to $70.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Finally, Wall Street Zen raised PROCEPT BioRobotics from a "sell" rating to a "hold" rating in a research note on Saturday, May 24th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $87.50.
Check Out Our Latest Stock Report on PROCEPT BioRobotics
PROCEPT BioRobotics Stock Performance
Shares of PRCT stock traded up $0.55 during mid-day trading on Wednesday, reaching $58.46. The stock had a trading volume of 841,546 shares, compared to its average volume of 843,523. The firm has a market cap of $3.23 billion, a price-to-earnings ratio of -34.39 and a beta of 1.07. PROCEPT BioRobotics has a 1-year low of $47.04 and a 1-year high of $103.81. The business's fifty day moving average is $58.06 and its 200-day moving average is $63.26. The company has a current ratio of 8.95, a quick ratio of 7.75 and a debt-to-equity ratio of 0.13.
PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last posted its earnings results on Thursday, April 24th. The company reported ($0.45) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.04. PROCEPT BioRobotics had a negative return on equity of 28.09% and a negative net margin of 36.20%. The firm had revenue of $69.16 million for the quarter, compared to analyst estimates of $65.39 million. During the same period last year, the company earned ($0.51) earnings per share. PROCEPT BioRobotics's revenue for the quarter was up 55.5% compared to the same quarter last year. On average, research analysts forecast that PROCEPT BioRobotics will post -1.75 earnings per share for the current year.
Insider Buying and Selling
In related news, Director Antal Rohit Desai sold 25,000 shares of PROCEPT BioRobotics stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $61.49, for a total transaction of $1,537,250.00. Following the transaction, the director owned 14,363 shares in the company, valued at approximately $883,180.87. This trade represents a 63.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold a total of 100,000 shares of company stock worth $6,271,250 in the last quarter. Company insiders own 17.40% of the company's stock.
Hedge Funds Weigh In On PROCEPT BioRobotics
A number of institutional investors have recently added to or reduced their stakes in PRCT. FMR LLC lifted its position in PROCEPT BioRobotics by 11.9% during the fourth quarter. FMR LLC now owns 8,159,208 shares of the company's stock worth $656,979,000 after buying an additional 866,328 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its position in PROCEPT BioRobotics by 43.6% in the first quarter. T. Rowe Price Investment Management Inc. now owns 1,415,403 shares of the company's stock valued at $82,462,000 after purchasing an additional 429,461 shares during the period. Wellington Management Group LLP raised its position in PROCEPT BioRobotics by 38.8% in the fourth quarter. Wellington Management Group LLP now owns 1,490,952 shares of the company's stock valued at $120,051,000 after purchasing an additional 416,819 shares during the period. Alliancebernstein L.P. raised its position in PROCEPT BioRobotics by 22.3% in the first quarter. Alliancebernstein L.P. now owns 2,143,693 shares of the company's stock valued at $124,892,000 after purchasing an additional 391,215 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in PROCEPT BioRobotics by 47.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,055,762 shares of the company's stock valued at $61,510,000 after purchasing an additional 341,906 shares during the period. Hedge funds and other institutional investors own 89.46% of the company's stock.
PROCEPT BioRobotics Company Profile
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Get Free Report)
PROCEPT BioRobotics Corporation, a surgical robotics company, focuses on developing transformative solutions in urology in the United States and internationally. The company develops, manufactures, and sells AquaBeam Robotic System, an image-guided, surgical robotic system for use in minimally invasive urologic surgery with a focus on treating benign prostatic hyperplasia (BPH).
Further Reading

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